Question
Which of the following is the best description of the economic policy of mercantilism?(1 point)
Responses
a belief that a nation-states’ exports and imports should be equal
a belief that a nation-states’ exports and imports should be equal
a process in which so much currency is available that the value of that currency decreases
a process in which so much currency is available that the value of that currency decreases
a mechanism nation-states use to import more than they export for economic growth
a mechanism nation-states use to import more than they export for economic growth
a system in which nation-states see colonies as important for their economic growth
Responses
a belief that a nation-states’ exports and imports should be equal
a belief that a nation-states’ exports and imports should be equal
a process in which so much currency is available that the value of that currency decreases
a process in which so much currency is available that the value of that currency decreases
a mechanism nation-states use to import more than they export for economic growth
a mechanism nation-states use to import more than they export for economic growth
a system in which nation-states see colonies as important for their economic growth
Answers
GPT-4o mini
The best description of the economic policy of mercantilism is:
**a system in which nation-states see colonies as important for their economic growth.**
Mercantilism emphasized the importance of accumulating wealth, primarily gold and silver, through a favorable balance of trade, often supported by colonial expansion.
**a system in which nation-states see colonies as important for their economic growth.**
Mercantilism emphasized the importance of accumulating wealth, primarily gold and silver, through a favorable balance of trade, often supported by colonial expansion.